Chinese Passenger Vehicle Market to Reach 16.8 Million Units in 2013, Forecast Visiongain27 May 2013 • by Natalie Aster
China is now the largest producer and consumer of passenger cars in the world and therefore this market has become of critical importance for all car manufacturers. The Chinese car market is expected to achieve sales of 16.8 million units in 2013.
The Chinese automotive market has divided in two with foreign brands from Germany, US, South Korea and Japan selling globalised high quality products. In contrast, the domestic Chinese manufacturers are predominantly low priced, older technology offerings. As the report explains, this two speed market has implications for the future market and with visiongain's ten year forecast there is in depth analysis of the Chinese market trends with comparisons made with the US and European markets.
According to the report “Chinese Passenger Vehicle Market 2013-2023” by Visiongain, China is the world's fourth largest country based on area with a total of 3,705,407 square miles (9,596,961 sq km) of land. According to World Bank data, as at 2011, the population of China is 1.344 billion. Because of its large area and population, China has several different subdivisions of its land. The country is divided into 23 provinces, five autonomous regions and four municipalities. In China an autonomous region is an area that has its own local government and is directly below the federal government. In addition, autonomous regions were created for the country's ethnic minority groups. This means that China is growing at different rates in different areas.
Chinese Passenger Vehicle Market 2013-2023
Published: May, 2013
Price: US$ 2,738.00
Even in the smaller so-called Tier 2 or Tier 3 cities beyond Shanghai, Guangzhou and Beijing, foreign brands are finding new customers with cheaper sub brands. China's growth has only begun as the battle for market in the west of China has only just started and it is at present twenty years behind the east coast of China.
In a market where some say there will be 1 billion possible consumers by 2020, there are large profits to be made as the centre of car manufacturing and retailing shifts from the developed economies eastwards to the developing markets. No car maker can afford not to be part of this market as without China there is no new growth and only replacement of existing vehicles to fight over.
More information can be found in the report “Chinese Passenger Vehicle Market 2013-2023” by Visiongain.
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